Bursa Malaysia remained slightly lower at midday on Friday as profit-taking activity weighed on several heavyweights, particularly in the industrial products, banking, and telecommunications sectors.
At 12:30 pm, the FBM KLCI had shed 1.14 points to 1,671.17, down from Thursday's close of 1,672.31.
The index opened 2.56 points higher at 1,674.87 before trading within a range of 1,668.81 to 1,675.47.
Pressure from Heavyweights
Among the counters exerting downward pressure were Petronas Chemicals, which fell 9 sen to RM4.49; CIMB, which dropped 6 sen to RM7.90; and Maxis, which declined 7 sen to RM3.52.
Market sentiment remained cautious following rises in crude oil prices and US bond yields. Brent crude reportedly reached US$106 per barrel, while the US 10-year bond yield tested the 5.208% level.
Rakuten Trade expects the FBM KLCI to undergo a consolidation phase, trading within the 1,670 to 1,680 range.
Gainers and Losers
The exchange recorded 506 losers against 474 gainers, while 503 counters remained unchanged. A total of 1,440 counters were untraded, and 43 were suspended. Among heavyweight stocks, Maybank rose 4 sen to RM10.16 and Tenaga Nasional gained 18 sen to RM13.24, while Public Bank and IHH fell 2 sen and 4 sen, respectively.
Pekat was among the top gainers, rising 29 sen to RM2.93. Solarvest, Southern Cable, and Batu Kawan also climbed 28 sen each.
Conversely, Nestle was among the most notable decliners, dropping RM1.42 to RM90.04, followed by Dutch Lady and Petronas Dagangan.
Indices and Sectors
Although the KLCI remained in negative territory, several other indices recorded gains. The FBM Mid 70 rose 85.43 points to 17,840.25, while the FBM Emas increased 12.13 points to 12,453.40.
In terms of sectors, the Industrial Products and Services Index fell 0.37 points and the Financial Services Index dropped 46.80 points. In contrast, the Energy Index rose 9.33 points to 869.76.
Trading volume reached 2.01 billion shares valued at RM1.25 billion at midday.
